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The fourth-largest cryptocurrency has witnessed bearish on-chain metrics since XRP has slipped to a 3-month low after dropping below the psychological price of $2.
For instance, according to Coinglass data, XRP’s open interest has declined by 3.78%, signaling that the altcoin’s market activity is decreasing as traders exit their positions.
As a result, renowned market analyst, Ali Martinez, believes that XRP’s situation might be like getting out of the frying pan and into the fire after falling below a head-and-shoulders pattern.
Martinez
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